Sweets manufacturer looks to boost revenue

18 October 2010 – UK sweet manufacturer Tangerine, which produces sweets such as Butterkist popcorn, Dip dabs and Refreshers, has enlisted the help of investment bank NM Rothschild to give advice on how to create an injection of funds, with the possibility of a sale of the company.

The company, which was formerly part of Close Brothers and is now owned by Growth Capital Partners, is seeking new funds in order to continue the progress that it has enjoyed over the past few years. The company’s revenues have risen dramatically recently, with an increase from £64 million in 2007, to £155 million in 2009.

It is believed that Rothschild is discussing the possible sale of the company with several private equity firms. Tangerine is based in Blackpool and owns seven factories in the north of England.

By Patrick Chidlow